• Benchmark says Chinese EV supply chain trying to find local lithium supply
  • Allkem and the International Finance Corporation (IFC) have agreed a non-binding term sheet for a project financing facility for the Sala de Vida Project
  • Forrestania advances lithium drilling and exploration program at flagship project in WA

All your lithium news, Friday October 7. 

 

Lithium chemical pricing in the Chinese domestic market continues to surge on the back of strong downstream demand from cathode manufacturers and constrained availability of supply, according to Benchmark Mineral Intelligence’s latest price assessment.

Prices throughout September increased by 0.6% m-o-m in the Benchmark Lithium Price Index while spot prices for both lithium carbonate and hydroxide remained relatively stable in international markets – reflecting a hesitation to purchase material under current high prices and macroeconomic concerns by consumers.

“Robust downstream demand was indicated by strong Chinese EV sales figures in August, which reached 666,000 units, up 12.3% m-o-m and marking a historic record high,” the London-based price reporting agency says.

“Improving EV sales translated through into Chinese battery cell production figures in September, reaching 50.1 GWh, underscoring a 6.0% m-o-m increase and the first time the figure has surpassed the 50 GWh mark.”

Under strong demand, Benchmark says Chinese EV supply chain incumbents continued to announce investments into the development of domestic lithium projects in September, in a bid to improve localised lithium supply prospects on the back of a widening deficit.

 

Here’s how ASX lithium stocks are tracking:

CODE COMPANY PRICE % TODAY % WEEK % MONTH % YEAR MARKET CAP
FRS Forrestaniaresources 0.21 22% 14% 20% -31% $7,384,950
CY5 Cygnus Gold Limited 0.42 14% 56% 50% 265% $54,458,567
KGD Kula Gold Limited 0.039 11% 26% 63% -20% $11,767,417
QXR Qx Resources Limited 0.082 8% 71% 183% 447% $67,021,536
SRZ Stellar Resources 0.014 8% -7% -7% -53% $13,060,202
RLC Reedy Lagoon Corp. 0.015 7% 7% -6% -35% $7,803,977
LRD Lordresourceslimited 0.3 7% 0% 62% 0% $9,319,694
LEL Lithenergy 1.23 7% 68% 28% 118% $69,172,500
MMC Mitremining 0.17 6% 0% 36% -26% $4,333,616
XTC Xantippe Res Ltd 0.0085 6% 6% -6% 325% $65,161,839
TKM Trek Metals Ltd 0.056 6% -14% -15% -53% $16,462,338
THR Thor Mining PLC 0.0095 6% -5% -5% -44% $9,892,470
PSC Prospect Res Ltd 0.1 5% -5% 3% 411% $43,914,649
RGL Riversgold 0.041 5% 14% 14% 81% $30,232,408
MTM Mtmongerresources 0.13 4% 0% -16% -13% $4,688,754
BNR Bulletin Res Ltd 0.13 4% 13% -7% 117% $36,573,888
EMS Eastern Metals 0.15 3% 7% 36% 0% $5,605,156
ESS Essential Metals Ltd 0.51 3% 12% 4% 252% $122,776,725
INF Infinity Lithium 0.19 3% 6% 0% 81% $76,962,417
EFE Eastern Resources 0.043 2% 34% 48% 30% $43,849,069
AKE Allkem Limited 14.6 2% 4% 4% 83% $9,112,134,049
PLS Pilbara Min Ltd 5.51 2% 19% 39% 195% $16,117,569,686
IGO IGO Limited 15.48 2% 11% 19% 81% $11,495,325,401
MRR Minrex Resources Ltd 0.053 2% 26% 10% 194% $56,314,229
NMT Neometals Ltd 1.13 2% -2% -18% 44% $613,104,624
PGD Peregrine Gold 0.61 2% 3% -6% 53% $23,232,934
RDT Red Dirt Metals Ltd 0.61 2% -1% 3% -26% $199,197,494
ASN Anson Resources Ltd 0.31 2% -5% 3% 303% $358,115,070
RAS Ragusa Minerals Ltd 0.325 2% -13% 48% 257% $41,924,041
AOU Auroch Minerals Ltd 0.065 2% -2% 2% -61% $23,751,155
AS2 Askarimetalslimited 0.405 1% 33% 19% 93% $18,142,062
DTM Dart Mining NL 0.081 1% 13% -23% -42% $12,384,813
SYA Sayona Mining Ltd 0.2475 1% 3% -8% 60% $2,035,743,087
GT1 Greentechnology 0.785 1% 4% 9% 0% $148,775,947
LTR Liontown Resources 1.61 0% 8% -9% 18% $3,525,278,737
ADV Ardiden Ltd 0.007 0% 0% 0% -30% $18,678,347
AGY Argosy Minerals Ltd 0.5 0% -2% 18% 178% $684,619,685
AML Aeon Metals Ltd. 0.029 0% 4% -3% -49% $31,709,492
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% 156% $2,752,409,203
JRL Jindalee Resources 2.26 0% 1% -8% 3% $129,676,463
LIT Lithium Australia 0.057 0% 4% -11% -48% $69,519,663
MLS Metals Australia 0.044 0% -2% -12% 10% $26,709,592
PLL Piedmont Lithium Inc 0.855 0% -4% -1% 18% $451,073,034
QPM Queensland Pacific 0.145 0% 7% 0% -40% $227,898,404
TKL Traka Resources 0.007 0% 0% 0% -42% $4,821,422
ARN Aldoro Resources 0.21 0% -7% -22% -44% $20,913,337
AAJ Aruma Resources Ltd 0.073 0% 29% 12% -12% $11,458,190
PAM Pan Asia Metals 0.395 0% 7% -8% -4% $29,198,496
AX8 Accelerate Resources 0.036 0% 3% 3% -12% $9,736,520
BYH Bryah Resources Ltd 0.026 0% 8% -7% -52% $7,260,590
FG1 Flynngold 0.11 0% 0% 16% -39% $7,046,716
GSM Golden State Mining 0.039 0% -5% -28% -71% $4,563,554
LRV Larvottoresources 0.205 0% 8% -9% 0% $8,514,163
RAG Ragnar Metals Ltd 0.026 0% -35% -32% -33% $9,858,807
SHH Shree Minerals Ltd 0.009 0% 0% 13% -18% $11,146,382
TMB Tambourahmetals 0.16 0% 0% 10% -20% $6,590,816
TEM Tempest Minerals 0.035 0% 6% -17% 67% $17,666,816
TSC Twenty Seven Co. Ltd 0.002 0% 0% 0% -43% $10,041,254
WCN White Cliff Min Ltd 0.021 0% 0% -19% 75% $15,699,671
WML Woomera Mining Ltd 0.023 0% 44% 35% 16% $15,797,161
AZL Arizona Lithium Ltd 0.081 0% -1% -5% 93% $195,203,970
LRS Latin Resources Ltd 0.11 0% 16% -4% 168% $216,425,928
KZR Kalamazoo Resources 0.2 0% 8% -13% -40% $29,763,875
SCN Scorpion Minerals 0.073 0% -3% -12% 28% $24,223,677
AZI Altamin Limited 0.082 0% 1% -14% 3% $32,120,774
ENT Enterprise Metals 0.011 0% 0% 22% -21% $7,182,788
STM Sunstone Metals Ltd 0.034 0% -6% -21% 55% $88,279,178
AVW Avira Resources Ltd 0.003 0% -40% -25% -50% $6,356,370
RMX Red Mount Min Ltd 0.006 0% -8% 0% -33% $9,854,183
CAI Calidus Resources 0.56 0% 12% -3% -3% $245,157,755
A8G Australasian Metals 0.3 0% 3% 11% -29% $12,351,148
MQR Marquee Resource Ltd 0.062 0% 6% -7% 2% $19,568,290
LSR Lodestar Minerals 0.006 0% 0% -14% -40% $10,430,624
NWM Norwest Minerals 0.041 0% 8% -32% -47% $9,106,403
VKA Viking Mines Ltd 0.007 0% 0% -13% -56% $7,176,809
SRI Sipa Resources Ltd 0.044 0% -12% -6% -20% $9,021,091
VMC Venus Metals Cor Ltd 0.145 0% -3% -19% -17% $23,211,409
G88 Golden Mile Res Ltd 0.028 0% -7% -20% -40% $5,728,513
EPM Eclipse Metals 0.022 0% 5% -4% -53% $44,533,651
EVR Ev Resources Ltd 0.027 0% 4% -7% -13% $25,001,570
MNS Magnis Energy Tech 0.385 0% 3% -23% 24% $373,577,621
CZL Cons Zinc Ltd 0.02 0% -9% -20% -17% $9,258,429
MM1 Midasmineralsltd 0.19 0% -10% -22% 6% $10,855,035
M2R Miramar 0.1 0% 10% -13% -49% $6,418,666
WMC Wiluna Mining Corp 0.205 0% 0% 0% -77% $74,238,031
ZEO Zeotech Limited 0.039 0% -7% -26% -55% $62,966,781
ALY Alchemy Resource Ltd 0.033 0% 65% 57% 160% $31,451,516
GW1 Greenwing Resources 0.4 0% 0% 38% 38% $50,098,940
TYX Tyranna Res Ltd 0.045 0% 5% 2% 650% $107,951,640
FTL Firetail Resources 0.21 0% 5% -14% 0% $12,974,325
DAL Dalaroometalsltd 0.13 0% 4% 30% -41% $3,883,750
WES Wesfarmers Limited 44.96 0% 2% -2% -14% $51,068,164,500
CXO Core Lithium 1.1525 -1% 4% -23% 196% $2,015,146,613
MIN Mineral Resources. 72.53 -1% 11% 20% 70% $13,841,082,990
EMH European Metals Hldg 0.7 -1% -7% -3% -47% $84,381,229
LKE Lake Resources 1.0175 -1% 11% -16% 82% $1,424,723,052
GLN Galan Lithium Ltd 1.2 -1% -2% -3% 30% $368,529,556
CHR Charger Metals 0.48 -1% -3% -3% 19% $21,148,927
AUN Aurumin 0.093 -1% -5% -11% -51% $11,778,871
RIO Rio Tinto Limited 96.96 -1% 7% 7% 0% $36,397,749,783
LPI Lithium Pwr Int Ltd 0.5825 -1% 7% -10% 108% $230,808,664
ZNC Zenith Minerals Ltd 0.305 -2% 9% -3% 45% $106,876,306
LLL Leolithiumlimited 0.605 -2% 6% 1% 0% $606,794,001
OCN Oceanalithiumlimited 0.52 -2% 0% -12% 0% $17,768,250
PNN Power Minerals Ltd 0.485 -2% 3% -10% 33% $35,717,731
1MC Morella Corporation 0.0225 -2% 7% -10% -64% $133,435,783
IMI Infinitymining 0.225 -2% -4% 13% 0% $13,225,000
MMG Monger Gold Ltd 0.39 -3% -8% 7% 63% $16,016,000
WR1 Winsome Resources 0.355 -3% 11% 37% 0% $49,316,608
LIS Lisenergylimited 0.51 -3% 0% -18% -77% $87,104,948
VUL Vulcan Energy 7.4 -3% 1% -7% -32% $1,092,214,994
GL1 Globallith 2.3 -3% 0% 22% 530% $376,114,867
CRR Critical Resources 0.063 -3% 0% 50% 174% $96,850,991
TUL Tulla Resources 0.47 -3% 7% -9% 11% $77,705,183
BMM Balkanminingandmin 0.31 -3% -6% 68% -51% $10,480,000
AM7 Arcadia Minerals 0.3 -3% 0% 15% 54% $14,476,347
NVA Nova Minerals Ltd 0.675 -4% -2% -25% -36% $128,562,893
EUR European Lithium Ltd 0.075 -4% -1% -10% -23% $109,218,656
LPD Lepidico Ltd 0.023 -4% 0% -23% 5% $156,172,590
TON Triton Min Ltd 0.023 -4% 5% -18% -30% $33,186,820
INR Ioneer Ltd 0.64 -4% 4% 1% 13% $1,405,749,831
DRE Dreadnought Resources Ltd 0.1 -5% 2% -23% 178% $319,466,023
IR1 Irismetals 1.84 -5% 7% 42% 667% $122,009,850
KTA Krakatoa Resources 0.07 -5% 13% 13% 9% $25,508,534
WC8 Wildcat Resources 0.033 -6% 3% 22% -3% $22,584,545
MXR Maximus Resources 0.047 -6% 7% -13% -41% $15,945,288
IPT Impact Minerals 0.007 -7% 0% -13% -52% $18,610,279
LNR Lanthanein Resources 0.04 -7% 3% -31% 135% $41,401,500
DAF Discovery Alaska Ltd 0.06 -8% -3% -25% 33% $14,575,255
KAI Kairos Minerals Ltd 0.033 -8% 6% 18% 10% $70,707,366
AOA Ausmon Resorces 0.007 -13% -22% -22% 0% $6,858,315
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34 lithium companies finished in the green, 39 tumbled into the red, and 58 stocks fell flat.

 

Who’s got news out?

ALLKEM (ASX:AKE)

Allkem and the International Finance Corporation (IFC) have agreed a non-binding term sheet for a project financing facility for the Sala de Vida Project in Argentina’s Catamarca Province.

IFC has proposed a US$200 million project finance facility to support Allkem’s development of Sal de Vida stage-1 and subject to finalisation of commercial terms, the facility is expected to reach financial close by the end of 2022.

“We are already in a strong financial position to self-fund the Sal de Vida project however we saw an opportunity to further improve the financing structure for Sal de Vida and partner with IFC,” AKE managing director and CEO Martin Perez de Solay says.

“Sal de Vida is expected to generate significant economy-wide benefits that will improve the fiscal outlook, economic performance and social outcomes at national, regional and local community levels.”

 

FORRESTANIA RESOURCES (ASX:FRS)

Funds have been received for a placement of new shares to raise up to $2.7m to advance lithium drilling and exploration program at the Forrestania Project in Western Australia.

FRS says exploration will focus predominantly on maiden lithium drill programs, regional soil sampling and ongoing environmental and heritage surveys.

In addition to the placement, the company intends to undertake a loyalty option entitlement offer to eligible shareholders.

“This is an exciting time as we move towards lithium focused drill programs and our ongoing soil sampling programs to refine existing anomalies and identify new areas to explore,” FRS managing director Angus Thomson says.

 

ODESSA MINERALS (ASX:ODE)

Odessa has decided to exercise its exclusive option to acquire a 148 km2 granted Exploration Licence (E08/3217) from Historic Gold Mines Pty, as per the binding agreement announced on September 20.

This tenement increases Odessa’s Lyndon Project area in the highly prospective Gascoyne region of Western Australia to 754 km2 – an area which holds considerable potential for the discovery of lithium pegmatites and rare earth element carbonatites.

 

ESSENTIAL METALS (ASX:ESS)

Results from additional metallurgical test work completed at Dome North, within the wider Pioneer Dome Project in the heart of Western Australia’s lithium corridor in the eastern Goldfields has demonstrated positive recovery characteristics for previously untested domains.

High lithium recoveries (74%-82%) with the production of marketable concentrates have been confirmed and complement the earlier test work program completed on the Cade Fresh mineralisation.

These results will be incorporated in the scoping study for the project and will be used to help finalise a framework for potential partners to be involved.

 

KULA GOLD (ASX:KGD)

Kula’s lithium exploration at its Brunswick Project, ~45km from the Greenbushes Lithium Mine is progressing ahead of expectations as field mapping and sampling of pegmatite occurrences continues.

With the recent capital raising completed, the company is now well funded to expedite the lithium exploration programs while continuing to assess new opportunities in the lithium sector that would complement the existing Brunswick Project.